GlobeNewswire Inc | May 11, 2021 07:03AM EDT

May 11, 2021

PETAH TIKVA, Israel, May 11, 2021 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announced that it was selected by Telefonica Global Solutions (TGS) to equip the strategic teleport in Arica, Chile. The Arica teleport is located under gateway beams of multiple satellites with coverage over several countries in the region. Gilat's platform is designed to support social inclusion with rural Internet for schools and to provide significant potential for business opportunities for broadband access and cellular backhaul throughout Latin America.

Gilat's SkyEdge II-c multi-service platform provides a significant advantage in Latin America, due to the local team presence and expertise, thus accelerating time to market and reducing risk. Gilat was able to answer TGS' requirements for urgent shipment and on-time delivery, overcoming difficulties imposed by the COVID-19 pandemic.

"Gilat is a long-time regional player and supplier of TGS and we are pleased with their professional and efficient processes enabling fast delivery under challenging conditions," said Gustavo Arditti, Satellite Business Unit Director at TGS.

"This deal demonstrates Gilat's commitment and ability to support Telefonica's teams of excellence worldwide to tackle their global requirements," said Michal Aharonov, Senior Vice President Global Broadband Networks at Gilat. "We are excited about the massive joint regional business opportunities with TGS by investing in this strategic location and developing a long-term business relationship with TGS."

About Telefnica Global Solutions (TGS)Telefnica Global solutions (TGS)delivers world-class international services and platforms tomultinational companies, wholesale carriers, fixed and mobile operators, OTTs, service providersandaggregators. Offering a global footprint, with particularly strong presence in Europe and Latin America, we provide our customers with high quality connectivity, digital platforms and a wide range of innovative solutions. Our global service portfolio includesVoice & UCC, Networking, Mobile, Satellite, Cloud, Security and IoT & Big Data. TGS is owned by Telefonica.

About TelefonicaTelefnica is one the largest telecommunications service providers in the world. The company offers fixed and mobile connectivity as well as a wide range of digital services for residential and business customers. With 344 million customers, Telefnicaoperates in Europe and Latin America.Telefnica is a 100% listed company and its shares are traded on the Spanish Stock Market and on those in New York and Lima.

About GilatGilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a leading global provider of satellite-based broadband communications. With 30 years of experience, we design and manufacture cutting-edge ground segment equipment, and provide comprehensive solutions and end-to-end services, powered by our innovative technology. Delivering high value competitive solutions, our portfolio comprises of a cloud based VSAT network platform, high-speed modems, high performance on-the-move antennas and high efficiency, high power Solid State Amplifiers (SSPA) and Block Upconverters (BUC).

Gilats comprehensive solutions support multiple applications with a full portfolio of products to address key applications including broadband access, cellular backhaul, enterprise, in-flight connectivity, maritime, trains, defense and public safety, all while meeting the most stringent service level requirements. Gilat controlling shareholders are the FIMI Private Equity Funds. For more information, please visit: www.gilat.com

Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words estimate, project, intend, expect, believe and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, risks associated with the outbreak and global spread of the coronavirus (COVID-19) pandemic; changes in general economic and business conditions, inability to maintain market acceptance to Gilats products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilats products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Companys proprietary technology and risks associated with Gilats international operations and its location in Israel. For additional information regarding these and other risks and uncertainties associated with Gilats business, reference is made to Gilats reports filed from time to time with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements for any reason.

Contact:Gilat Satellite NetworksDoreet Oren, Director Corporate CommunicationsDoreetO@gilat.com

GK Investor and Public RelationsEhud Helft, Managing Partnerehud@gkir.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/45287997-f910-4064-811e-418cdb724836